Hotel in Nozawa Onsen takes heat for height
A high-rise hotel planned in the historic Nozawa Onsen village is causing a stir, according to a recent article in the Shinano Mainichi Shimbun newspaper. News of a 36-meter tall, 100-room hotel has sparked a debate on its scenic impact.Read more
REIT acquires two Mimaru hotels
ORIX JREIT is acquiring two serviced-apartment style hotels in Osaka and Kyoto for 7.85 billion Yen (approx. US$50 million). The price per key is 132.5 million Yen (US$840,000) for the Osaka hotel and 68.9 million Yen (US$440,000) for the Kyoto hotel.Read more
Hoshino REIT acquires KAI Poroto in Hokkaido
On January 8, Hoshino Resorts REIT acquired the Hoshino Resorts KAI Poroto hotel in Hokkaido for 3.06 billion Yen (approx. US$19.8 million). The 42-room luxury hot spring ryokan opened in March 2020.Read more
Pullman Hotel announced for former Nakagin Capsule Tower site in Ginza
An interesting update for the site of the former Nakagin Capsule Tower building in Ginza, with the Pullman Tokyo Ginza hotel to be built in its place.Read more
Seto Island Sea chosen as location for Hilton’s second LXR hotel
Hilton is planning to open a luxury 60-room hotel on a waterfront site in Miyajima, Hiroshima, in 2028. Hirogin Holdings, parent company of Hiroshima Bank, and Hilton announced the project on December 4.Read more
Niseko ramping up for record-breaking ski season
This ski season, hotel bookings in Niseko and Kutchan are expected to surpass last year’s record as inbound tourism continues its post-pandemic recovery.Read more
REIT sells 302-room Osaka hotel for 7.75 billion Yen
Ichigo Hotel REIT has sold a 302-room hotel in Osaka to an unnamed buyer for 7.75 billion Yen (US$50 million), 2% more than the REIT paid for it eight years ago. The sale price works out to be around 25.66 million Yen per key.Read more